RBI has clarified that an Asset Reconstruction Company with Net Owned Fund below ?1,000 crore may act as a resolution applicant under the IBC to acquire financial assets covered by the SARFAESI Act—without meeting the ?1,000 crore NOF condition.
Adrodebt
Preserving Value · Delivering Resolution
RBI has clarified that an Asset Reconstruction Company with Net Owned Fund below ?1,000 crore may act as a resolution applicant under the IBC to acquire financial assets covered by the SARFAESI Act—without meeting the ?1,000 crore NOF condition.